The Hashgraph Group, a venture capital and technology firm based in Switzerland, has recently announced a strategic investment in AgNext Technologies, an agritech company. This investment is part of AgNext’s fundraising initiative, which was led by Novo Holdings from Denmark.
The collaboration between The Hashgraph Group and AgNext will involve leveraging the Hedera blockchain network to support AgNext’s AI-driven agricultural solutions. By utilizing distributed ledger technology, AgNext aims to digitize trust within the supply chain ecosystem, particularly in areas such as insurance and traceability across food supply chains.
Stefan Deiss, co-founder and CEO of The Hashgraph Group, expressed excitement about the partnership, stating, “With this strategic co-investment alongside Novo Holdings, we look forward to embarking on the tech-enablement journey with AgNext to drive the convergence of AI and Blockchain/DLT.” This collaboration will also bring Hedera-powered AgriTech solutions to market, enhancing AgNext’s competitive edge in the web3 era.
Additionally, AgNext will benefit from Hedera’s blockchain technology and smart contracts for immutability and efficiency. The two companies share a common goal of developing Hedera-powered embedded devices, which will be available to customers globally through a new web3 venture established in Switzerland.
AgNext recently raised $21 million in a Series A funding round, with Alpha Wave Incubation leading the capital injection initiative. The company, which has operations in India, the Middle East, and the United States, opened its first international office in Abu Dhabi, UAE.
Meanwhile, Hedera is making strides in the tokenization of real-world assets, with integrations such as Chainlink and Alchemy Pay. The latter enables onboarding via fiat-crypto on and off-ramping for assets like HBAR and USDC on the Hedera network.
Overall, the partnership between The Hashgraph Group and AgNext represents a significant step forward in the integration of AI and blockchain technology in the agriculture industry. It showcases the potential for innovative solutions to enhance trust and efficiency in supply chains, ultimately driving growth and competitiveness in the sector.